Section 404(d) of the Uniform Limited Liability Company Act provides:
Action requiring the consent of members or managers under this Act may be taken without a meeting.
Utah Unanimous Consent to Action By the Members of a Limited Liability Company, in Lieu of a Meeting, Ratifying Past Actions of Managing Member and/or Members
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(1) A trust is created only if: (a) the settlor has capacity to create a trust, which standard of capacity shall be the same as for a person to create a will; (b) the settlor indicates an intention to create the trust or a statute, judgment, or decree authorizes the creation of a trust; (c) the trust has a definite ...
Because the ownership interest in an LLC is considered an asset, it is possible for a living trust to become one of the members of the LLC. With all states now recolonizing single-member LLCs, it is possible for a living trust to be an LLC's only member.
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